Formula one – formula for disaster

ARCHIVES 2009

By admin-s On Nov 15, 2009

By Steadyaku47

Toyota Motor joined Formula One in 2002. By the time they left in 2009 they had spent RM8.11 Billion. This translates into RM3million a day – everyday for 7 years!

Honda quit F1 in April this year.

BMW withdrew at the end of this year season.

Toyota, Honda and BMW ! What does that say about F1? F1 is simply not sustainable.

And now Mokhzani Mahathir, Chairman of SIC’s announces:

“ Malaysia’s plans to start up and run it’s own Formula One team….If Malaysians need to rally behind an effort to unite our people, let’s use motor sports” and most important of all he reminds us that “Contrary to popular belief, motor sports isn’t just about fun and games but is big business in other parts of the world”.

Company Name: 1Malaysia F1 Team Sdn Bhd 

Team Name: Lotus F1

Team Country: Malaysia 

Team Principal: Tony Fernandes

A partnership between the Malaysian Government and a consortium of Malaysian entrepreneurs.

What madness is this? You can put any spin you like into this but this is the bottom line. The Barisan Nasional Government will be using hundreds and hundreds of million, if not billions of our Ringgit to finance an entertainment spectacle that will financially benefit their cronies and big business.